To actually find a collision in 128b cryptographic hash function it would take closer to 2^65 hashes. Back of the envelope calculations suggest that with Pollard's rho it would cost a few million dollars of CPU time at Hetzner's super-low prices. Not nearly mere mortals budget, but not that far off I guess.
That's great analysis. As you call out in the post, the 2^64 value is used to attack SHA256-128 (SHA256 truncated to 128 bits). NIST recommends at least SHA-224, which makes sense given your conclusions.
To actually find a collision in 128b cryptographic hash function it would take closer to 2^65 hashes. Back of the envelope calculations suggest that with Pollard's rho it would cost a few million dollars of CPU time at Hetzner's super-low prices. Not nearly mere mortals budget, but not that far off I guess.